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Aren't you able to apply to the FIRB to get the foreign investor approval? I saw Viva Carlton. very small however if you want depreciation and negative gearing to offset that would be good.

60sqm for 470K is a bit too expensive i would think. Student apartment size i suppose. i think it should be around 70sqm for a decent 2 bed. there're one bedders in inner city around 70sqm if you look around for less than 410K It really depends on your objectives. - If you're on high income...